July BTC Uptrend reversal

2021年7月3日

We witnessed bitcoin and other crypto currencies reach all time highs a couple weeks ago, since then price has come down to retest previous imbalances in the market; the bullish trend broke previous highs that needed to be retested. Currently, price is rejecting to make lower lows and price action demonstrates wick exhaustion on higher time frames. July just began and with the rest of the month ahead of us, this can be the beginning of a nice uptrend reversal. However, it is possible for price to break support and continue down so as always, read and react. We may see rejection of resistance levels as price approaches previous lows and highs. Lastly, the 4hr time frame shows a trap M that was broken and the Daily time frame shows a tweezer bottom---confluences mane.